Made in Italy exports: food leads the recovery

There is good news, however: we are facing recovery. For this reason, in recent weeks we have presented you with the numerous opportunities that are emerging for small and medium-sized enterprises, such as Digital Export or the voucher for internationalization.

Of course, the damage from the pandemic won't be erased quickly, but the forecasts in the latest ICE-Prometeia Report outline a path that leaves no room for uncertainty: in 2021, a International trade restart of +7.6% compared with last year, with further growth in the +5.3% in 2022.

But what's behind this recovery? Made in Italy Exports, which, in the post-Covid era, will increasingly look to Asia as well as Europe, driven by one sector in particular. Today, we present to you another opportunity ready to be seized: the food sector.

Food is the locomotive

According to the 18th ICE - Prometeia Report, “a return to the essential and to health-related aspects will boost the Italian food sector (+8.51% over the past three months) than the Fashion System (+6.7%), which is more related to sociality. The health aspects of consumption, for example, will be rewarding even after the health crisis has passed, keeping the agribusiness chain among the most attractive ones.”.

In addition, food is the sector that has shown the most growth in the digital sphere. In fact, exports through digital channels have grown by the +46% 2019 to 2020, amounting to 1.9 billion: well the 14% of Italian digital exports.

Global demand is growing fast

Exports to the Asian countries are those that will have the most significant rebound: Asian emerging countries will import from Italy for a value of’8.9% upper By 2020, while more mature countries like Japan will import from Italy with an increase of’8,4%. The Americas also seem ready to receive Italian products in greater quantities: in 2021 the North America will register a +7,9%, while the’Latin America a +7%.

Asia free trade agreement and the benefits for Italian exports

On the Asian continent, the survey further notes, The year of the pandemic was also the year of the largest free trade agreement ever signed., an agreement that could shift the competitive balance in one of the regions with the greatest future potential (the signatory countries already account for 81% of Italian exports). With a contribution to global trade of €9.3 trillion and involving over 2.2 billion people, the 15 signatories to the RCEP (Regional Comprehensive Economic Partnership) agreement have laid the groundwork for a deal that, from a trade perspective, focuses primarily on medium-term impacts. For Italy, these are markets worth a total of 39 billion euros (81% of its exports), and maintaining a presence in them remains essential for the recovery in the coming years. As early as 2021, for example The import growth of these countries will be at least two points higher than that expected for the average of world trade.

With our teams of experts present directly in these areas, we at Octagona we are able to open the right path for you, seizing market opportunities and thereby supporting the growth of your business.

With direct offices in India, Vietnam, Brazil, and the USA and with local partnerships throughout the rest of the world, Octagona is in fact one of the leading companies in International Advisory and among the top 5 in Italy: in almost 20 years we have successfully worked on more than 750 projects of internationalization.

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